RAY DALIO: 'We are increasingly concerned about the emerging policies of the Trump administration'

Ray Dalio, the head of the hedge fund Bridgewater Associates, is
cooling off on his opinion of President Donald Trump.

Dalio, who had been hopeful about a Trump presidency and some of
his economic policies, seems to have struck a less optimistic
tone, according to
a letter obtained by Bloomberg.

In the letter, Dalio warned that there was a high level of
uncertainty in the market and told clients to avoid investing too
heavily in a particular asset,
according to the Bloomberg report.

"While there is a lot of potential to improve fiscal policies and
make beneficial structural reforms (to enhance the business
friendly environment, reduce regulatory inefficiencies, etc.),
there is also significant risk that his populist policies could
hurt the world economy (and worse)," Dalio said
in the letter.

It's a quick turnaround for Dalio after the head of the world's
largest hedge fund said in a note after the election that Trump's
policies could be beneficial to business and the US.

"A pro-business US with its rule of law, political stability,
property rights protections, and (soon to be) favorable corporate
taxes offers a uniquely attractive environment for those who make
money and/or have money,"
Dalio wrote in December.

"Nationalism, protectionism and militarism increase global
tensions and the risks of conflict," Dalio's letter said,
according to Bloomberg. "For these reasons, while we remain
open-minded, we are increasingly concerned about the emerging
policies of the Trump administration."